USD/CHF: Dip & Bounce But Trading On Verge Of Further Dip

Spot failed to hold the break into the 1.18's but conversely the bounce above 1.1920 has proved just as unsustainable. As a result, USD/CHF has seen dip followed by bounce but we are again on the verge of a further dip and should this be the case then 1.19 will prove a key level on the downside once more. Technicians, see the close intraday as a key factor in the short-term outlook as the lower lows need to witness a lower close to signal that the downside remains open for business.